Saudi light crude oil specification
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  • 1. SAUDI LIGHT CRUDE OILSPECIFICATIONSaudi Arabia Light Crude OilAPI GRAVITY: 33 – 34SEDIMENT CONTENT: 0.1
  • 2. ASTM STABILIZED GRAVITY: 34.5WAX – WT PERCENT: 2.9VANADIUM PPM V200: 11.0GROSS HEATING VALUE: 19.23REID VAPOUR PRESSURE: 2.0SALT CONTENT, PPM NaCl: 3.8SULPHUR, WT PERCEN: 1.5 MaxASH, PPM: 100.0COMP. CARBON RESIDUE, WT PERCENT: 3.1The Procedure of Saudi Arabia Light Crude OilPROCEDURES 1. Buyer issues an ICPO, LOI, and BCL with right to soft probe. 2. Seller issues FCO for buyer review sign, seal and return FCO with a letter of acceptance. 3. Seller issues Draft Contract for buyer review and sign, seal and return 4. Seller signs, seals hard copies contract sends 3 copies to buyer. 5. Both parties lodge the signed contract to their respective banks. 6. Upon receipt of buyer’s POF, Seller shall issue POP BANK TO BANK 7. Buyer issues BANK to BANK pre advice or Irrevocable Non Operative DLC to seller’s bank and within 7 international banking days seller issues Performance Bond. 8. NCNDA-MFPA issued by end Seller to be signed by all intermediaries/brokers and End buyer then legalized and endorsed by the End Sellers’ bank.(to guarantee commissions to all brokers) 9. Delivery of product commences as per schedule in contract.KEY:ICPO – IRREVOCABLE CORPORATE PURCHASE ORDERLOI – LETTER OF INTENTBCL – BANK CAPABILITY LETTER / BANK COMFORT LETTERFCO – FULL CORPORATE OFFERPB – PERFORMANCE BONDIRDLC – IRREVOCABLE DOCUMENTARY LETTER OF CREDITPOF – PROOF OF FUNDS
  • 3. POP – PROOF OF PRODUCTNCNDA – NON CIRCUMVENTION NON DISCLOSURE AGREEMENTMFPA – MASTER FEE PROTECTION AGREEMENTI hope to read from you soonThank youContactTINSEL CARGO & OIL COMPANYCOMMERCE HOUSE3RD FLOOR, SUITE 311,MOI AVENUE, NAIROBI.P.O. BOX 79456-00200 NAIROBI, KENYATELE FAX: +254-20-2229781,Cellphone: +254-722-761587,+254-734-939308Website: www.tinselcargo.comEMAIL: info@tinselcargo.com